- During the initial six months of the year, German international trade experienced a decrease.
Subpar German Export Performance in First Half of the Year. Both outbound and inbound shipments fell short during the initial six months of this year, as reported by the Federal Statistical Office. Exports failed to match the worth of the preceding period by 1.6%, amounting to 801.7 billion euros, while imports took a steeper drop of 6.2%, reaching 662.8 billion euros. As a result, the trade surplus witnessed a notable boost of 28.7%, toting up to 138.8 billion euros.
The sluggishness was particularly evident in significant sectors. The worth of exported automobiles and associated components saw a decline of 2.4% annually, while machinery went down by 4.4%. Chemical products also faced a similar setback. The primary market for German goods continued to be the US, followed closely by France and the Netherlands. China emerges as the leading importer, clocking in a 25.3 billion euro surplus in exports with Germany.
Destatis Foreign Trade 1H 2024
The first half of the year saw Germany struggle with subpar export performance, and this trend continued in several key sectors. Half of the year had passed, and exports of automobiles and associated components had decreased by 2.4%, while machinery exports experienced a more significant drop of 4.4%.
